A sharp Bitcoin decline set off one of the biggest crypto liquidation events of 2026 so far, with roughly $1.8 billion in leveraged positions forcibly closed on June 2. More than 272,000 traders were liquidated during the move, and the losses were concentrated in bullish bets: longs accounted for $1.57 billion, compared with $215.7 million for shorts, according to CoinGlass. Bitcoin was the main driver of the wipeout with more than $833 million in liquidations, followed by Ether at nearly $480 million and Solana at more than $90 million. The largest single order liquidated was a $59.67 million BTC position in USDT on HTX, the crypto exchange with connection to TRON founder Justin Sun. Bitcoin fell to about $66,860, sending the token back to price levels last seen in early April. The event ranks among the largest liquidation waves of 2026, although it remains far smaller than the Oct. 10-11, 2025 crypto crash that caused more than $19 billion in forced liquidations. Market participants are now watching whether Bitcoin can hold the range where buying interest appeared in April; a break below it could signal a broader downtrend, while a defense of the level may leave the episode looking more like a forced reset.